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Are Energy ETFs Outperforming Crude Oil?

PART:
1 2 3 4 5
Part 4
Are Energy ETFs Outperforming Crude Oil? PART 4 OF 5

How Oil Is Disappointing Wall Street Bulls

Energy sector versus the broader market

From April 13–20, 2017, the Energy Select Sector SPDR ETF (XLE) fell 1.7%. It was the largest loser among the sector-based SPDR ETFs that we’ll compare in this part of our series. US crude oil (USO) (USL) June futures fell 5.4% in the same period.

How Oil Is Disappointing Wall Street Bulls

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SPDR ETFs

Among the SPDR ETFs, the Consumer Discretionary Select Sector SPDR ETF (XLY) rose the most. It rose ~2.2% from April 13–20, 2017. The returns of the above SPDR ETFs are adjusted for dividends.

During the same trailing week period, the S&P 500 Index (SPY) (VFINX) rose 1.2%, while the Dow Jones Industrial Average (DIA) (DJIA-INDEX) rose 0.70%. Energy accounts for 6.6% of the S&P 500 Index and 6.4% of the Dow Jones Industrial Average Index.

The S&P 400 MidCap 400 Index (IVOO) (MID-INDEX), which has 3.4% exposure to the energy sector, rose 2.4% during the same period. The fall in energy stocks limited the gains in the broader markets. Movements in crude oil and equity indexes can be positively correlated.

Energy ETFs

Apart from the impact on the broader market, movements in crude oil (SCO) prices can also directly impact ETFs such as the iShares US Oil Equipment & Services ETF (IEZ), the SPDR S&P Oil & Gas Equipment & Services ETF (XES), and the Guggenheim S&P 500 Equal Weight Energy ETF (RYE).

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